TTEC Holdings, Inc. TTEC Cash Flow

Ttec holdings, inc. (TTEC)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities
Net income
24,685	30,665	19,979	13,614	20,476	20,782	6,744	6,297	5,932	-40,724	15,575	15,794	20,167	339	12,649	12,542	11,905	17,919	12,438	15,493	20,035	23,295	14,689	18,130	21,303	20,977	19,169	12,722	18,603	21,138	29,720	6,248	16,817	17,245	26,435	23,224	11,371	5,384	19,788	14,324	14,042
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
18,872	18,634	16,659	17,050	16,743	17,127	17,317	16,811	17,924	17,234	16,515	16,258	14,500	16,914	16,811	17,221	17,729	17,279	15,486	15,680	15,363	15,386	13,893	14,089	13,170	12,783	11,463	11,263	10,555	10,126	10,695	10,229	10,116	10,061	11,807	11,423	11,598	12,096	12,452	12,946	12,724
Amortization of contract acquisition costs
130	251	263	235	253	1,832	425	396	362	405	464	403	406	160	165	165	169	146	217	256	281	116	83	299	358	407	247	251	255	254	255	252	256	232	439	374	635	461	2,109	1,769	928
Amortization of debt issuance costs
183	174	174	179	556	248	250	247	247	224	180	170	171	171	170	177	235	178	178	178	178	178	178	179	170	171	169	144	175	277	184	194	153	154	145	62	228	225	447	-149	149
Imputed interest expense and fair value adjustments to contingent consideration
3,220	2,132	762	-1,919	1,364	2,013	3,076	3,117	2,011	12	8	11	20	-203	-4,515	50	145	-70	909	-332	209	-2,558	35	-3,910	200	2,368	263	324	346	304	227	309	64	-105	118	335	196	-	-	-	-
Provision for credit losses
162	-	-	-	-	3,196	226	133	124	78	67	252	61	622	318	6	218	501	558	353	53	162	252	106	113	283	-66	402	76	-122	442	8	40	62	301	208	-208	-42	-1	339	304
(Gain) loss on disposal of assets
-14	-7	-148	-27	-7	-86	10	-17	-18	-3,609	-73	11	-23	-21	24	31	10	48	49	34	35	-	-	0	0	-94	-12	-1	107	-125	-43	-27	-110	64	-345	696	0	135	271	162	49
Impairment losses
696	166	0	2,063	1,506	332	0	0	1,120	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	161	997	1,800	0	0	0	230	952	327	679	0
Impairment of equity investment
-	-	-	-	-	0	0	0	15,632	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (adjustment) on bargain purchase of a business
-	-	-	-	-	0	0	0	685	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
4,589	-22	1,370	-366	-2,358	-2,699	-2,949	-1,355	-972	8,622	2,254	6,819	-918	-6,951	-529	814	5,083	4,937	4,721	1,138	-1,479	-3,537	8,016	4,045	990	1,425	2,770	-1,278	3,975	220	10,231	-6,875	-1,222	-3,924	-2,494	2,715	5,361	-5,787	4,321	-3,128	1,564
Excess tax benefit from equity-based awards
195	-11	685	237	320	-73	434	47	227	222	1,267	419	284	62	18	325	196	242	11	0	409	313	36	262	788	269	28	246	800	-543	-131	674	462	1,215	2,177	1,033	2,066	1,783	0	0	0
Equity-based compensation expense
2,919	3,114	3,200	3,300	3,200	2,845	3,100	2,591	3,609	3,494	3,522	2,795	2,041	2,495	2,694	1,825	2,759	2,735	3,291	2,588	2,690	2,276	3,150	2,721	3,160	3,392	3,265	3,386	3,191	3,066	3,465	3,457	3,388	4,293	3,848	3,955	3,760	3,396	3,381	3,407	3,188
(Gain) loss on foreign currency derivatives
-485	-15	-77	190	42	-865	-510	576	-725	1,510	-254	-1,780	1,205	2,939	-4,587	-4,114	4,052	6,289	-2,220	-2,513	-87	3,304	-4,711	2,321	634	-309	-2,693	2,335	433	-988	-389	664	299	-107	-435	-566	35	-866	1,322	-268	-60
Changes in assets and liabilities, net of acquisitions:
Accounts receivable
-11,611	7,097	-9,017	-9,108	-18,580	47,201	-11,488	-24,501	-41,197	72,744	13,209	1,941	-28,610	31,638	165	-23,616	-329	24,589	4,469	-34,012	24,821	16,826	14,941	1,146	8,092	-6,582	-3,513	7,816	-5,012	691	4	1,936	-3,031	-20,543	32,240	5,719	-11,627	24,548	-10,417	972	-15,016
Prepaids and other assets
-19,219	-5,988	-8,322	-7,234	-5,869	-9,314	39,715	2,374	-2,337	-7,548	4,158	15,469	7,187	-12,560	-1,892	5,019	9,525	-1,460	7,629	1,059	-1,849	-10,818	15,487	2,249	-1,618	-5,867	12,285	-8,674	7,630	-5,229	18,914	4,153	7,826	-12,517	2,622	5,931	386	1,218	-16,918	3,555	-5,519
Accounts payable and accrued expenses
-933	13,282	21,216	37,154	25,616	-3,064	24,720	-12,663	2,720	-13,629	5,316	16,825	10,456	-9,794	10,076	-9,165	-10,258	4,332	-1,425	20,865	-7,583	9,715	5,135	-12,148	-10,817	11,471	131	5,248	-19,399	-605	-29,149	28,979	-15,526	11,800	-10,352	5,715	-23,665	30,812	-18,955	-1,416	9,242
Deferred revenue and other liabilities
-23,492	-15,476	-17,300	-46,015	-11,455	-3,137	36,646	-1,759	-24,687	46,553	1,887	4,108	8,071	-7,151	780	-3,731	-1,745	-1,449	1,150	-9,958	-2,598	-3,739	10,599	560	-7,214	-4,493	5,086	-986	-7,325	2,657	6,878	-2,405	4,224	2,591	-2,467	-11,825	5,962	-6,252	-808	-1,147	-11,255
Net cash provided by operating activities
62,165	53,592	63,131	41,303	79,963	2,236	61,403	37,319	67,387	-36,491	24,188	50,523	74,932	992	55,793	42,259	12,786	21,834	30,651	81,693	3,820	32,183	30,277	18,093	13,537	61,366	36,402	33,717	6,494	43,509	14,754	33,993	14,664	74,297	-8,479	23,373	24,608	14,499	45,321	23,203	51,432
Cash flows from investing activities
Proceeds from grant for property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	110	-1,840	2,197	0	0	-	-	-	-
Proceeds from sale of long-live assets
15	27	28	312	15	13	13	4	4	8	9	9	13	21	30	62	1	-	-	-	-	0	0	0	135	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property, plant and equipment
16,813	16,338	16,010	15,228	13,200	11,609	14,958	9,375	7,508	8,026	14,343	17,554	12,035	11,969	11,120	12,794	14,949	17,411	19,679	16,467	13,038	15,407	17,751	19,388	15,095	18,532	18,172	9,555	4,105	7,394	15,781	10,994	6,484	17,501	8,804	8,492	3,870	9,409	5,075	5,708	6,608
Payments for contract acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	1,021	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in non-marketable equity investments
-	-	-	-	-	0	0	0	2,119	0	0	231	1,153	-	-	-	-	0	0	0	9,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired of $3,123 and zero, respectively
5,243	-	-	-	-	0	25	1,542	460	-	-	-	-	46,060	0	200	200	0	1	1,673	102	513	15,171	572	8,160	210	7,304	1,652	0	36,030	0	182	4,627	84	1,903	43,884	0	-	-	-	-
Net cash used in investing activities
-22,041	-118,768	-15,982	-14,916	-13,185	-11,596	-14,970	-10,913	-10,083	-42,733	-15,979	-96,079	-14,196	-61,187	-11,090	-12,932	-15,148	-17,325	-19,680	-18,024	-22,140	-15,920	-32,922	-19,960	-23,120	-18,742	-25,476	-11,207	-4,105	-43,424	-15,556	-10,951	-11,001	-21,437	-11,576	-50,048	-3,870	-22,207	-8,675	-5,708	-6,608
Cash flows from financing activities
Proceeds from line of credit
523,200	405,950	206,600	286,600	253,600	588,900	479,700	463,000	630,800	721,750	420,137	614,800	536,900	508,700	398,300	605,000	581,500	564,850	512,300	611,400	573,800	537,300	538,600	368,600	632,900	419,500	432,500	314,600	366,950	322,200	341,700	267,400	248,550	121,400	150,700	147,200	258,900	511,400	255,000	275,550	215,150
Payments on line of credit
113,200	314,950	235,600	300,600	293,600	579,400	496,200	476,500	672,300	632,750	422,137	539,800	572,200	420,400	404,300	603,000	548,500	579,850	512,300	622,400	547,800	-	-	-	632,900	437,500	424,500	319,600	359,950	302,200	331,700	274,400	227,550	187,700	138,400	108,700	179,400	511,400	255,000	275,550	215,150
Proceeds from other debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,709	0	1,193	0	6,821	0	0	0	0	-	-	-	-
Payments on other debt
2,400	2,488	2,351	2,518	4,498	1,376	1,772	1,278	1,563	1,540	1,476	1,810	1,215	916	1,092	664	550	666	836	942	778	735	642	1,602	1,525	1,496	1,632	1,323	1,338	2,117	1,393	735	655	453	558	551	537	-	-	-	-
Payments of contingent consideration and hold back payments to acquisitions
-	0	0	365	5,537	564	0	386	399	-	-	-	-	0	0	1,839	7,628	0	0	10,883	1,000	0	0	6,358	2,189	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,713	0	0	8,710	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to noncontrolling interest
2,091	1,350	1,350	1,350	900	900	900	180	945	900	945	855	945	1,080	1,035	1,302	900	1,036	900	1,667	990	1,124	1,125	2,723	990	1,035	1,035	1,276	1,109	765	720	0	720	765	924	869	990	1,125	945	810	1,260
Capital contribution from noncontrolling interest
-	0	0	2,032	1,330	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of purchase price payables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on capital lease obligations and equipment financing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,256	960	951
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	365	6	366	27	198	234	129	1	301	12	6	0	317	539	239	365	428	342	6,234	4,855	1,923	1,750	1,675	243	60	814
Tax payments related to issuance of restricted stock units
1,810	58	2,190	1,450	1,773	25	2,331	565	1,722	460	3,061	1,189	687	241	1,673	3,267	-1,248	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from equity-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	62	18	325	196	242	11	0	409	313	36	262	788	269	28	246	800	-543	-131	674	462	1,215	2,177	1,033	2,066	1,640	15	20	108
Payments of debt issuance costs
35	0	0	90	1,729	-	-	-	-	-	-	-	-	0	5	0	1,883	-	-	-	-	-	-	-	-	-	-	-	-	35	0	13	419	0	0	0	22	2,288	0	0	0
Purchase of treasury stock
-	-	-	-	-	-	-	-	-	0	0	6,670	11,658	17,404	21,168	27,381	8,730	629	4,348	6,339	5,915	9,793	10,232	16,583	20,466	4,905	20,626	21,151	9,850	26,032	14,479	18,076	22,656	5,326	14,619	9,919	33,829	31,976	11,014	17,737	19,568
Net cash (used in) provided by financing activities
403,664	72,229	-34,891	-31,605	-53,107	-6,297	-21,295	-28,358	-46,129	73,023	-7,756	56,119	-49,805	59,381	-30,954	-42,295	12,263	-29,684	-6,046	-30,668	9,250	-26,210	3,038	-26,703	-24,370	-25,161	-15,333	-29,919	-249	-9,253	-5,165	-24,722	4,175	-65,395	3,231	30,117	47,938	-32,656	-12,957	-19,427	-20,857
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-7,374	2,741	-3,390	708	-469	15	-2,519	-8,382	-4,018	1,796	479	872	280	-5,230	-7,771	-7,124	5,217	-691	-12,597	-4,873	-2,532	-349	-10,559	5,971	-3,687	-4,349	-1,313	-12,519	3,926	3,276	5,766	-503	8,552	-903	-7,653	1,137	1,646	598	3,978	-482	507
Increase (decrease) in cash, cash equivalents and restricted cash
436,414	9,794	8,868	-4,510	13,202	-15,642	22,619	-10,334	7,157	-4,405	932	11,435	11,211	-6,044	5,978	-20,092	15,118	-25,866	-7,672	28,128	-11,602	-10,296	-10,166	-22,599	-37,640	13,114	-5,720	-19,928	6,066	-5,892	-201	-2,183	16,390	-13,438	-24,477	4,579	70,322	-39,766	27,667	-2,414	24,474
Supplemental disclosures
Cash paid for interest
2,864	3,207	3,057	3,484	3,360	3,779	5,084	4,392	4,201	3,589	3,281	2,730	2,127	2,000	1,821	1,528	1,627	1,412	1,947	1,353	1,340	1,366	1,368	1,688	982	949	1,045	1,178	1,048	1,244	1,462	833	873	1,105	882	976	1,050	703	349	363	802
Cash paid for income taxes
3,248	11,240	5,631	16,969	2,476	9,896	9,875	16,070	4,143	7,456	5,452	5,455	450	2,986	3,050	6,046	7,659	4,254	3,163	4,958	2,803	4,005	3,054	4,652	2,834	4,428	3,416	7,162	1,751	3,175	4,667	6,659	1,887	7,626	1,835	3,015	11,860	3,677	5,955	4,764	1,197
Non-cash investing and financing activities
Acquisition of long lived assets through finance leases
837	559	1,854	-2,299	3,617	3,536	3,943	3,491	4,048	8,905	57	340	534	-1,833	-250	1,665	1,002	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of equipment through increase in accounts payable, net
-3,511	1,374	-714	-1,559	1,780	-717	808	620	-372	-308	1,679	-2,635	1,361	-139	-831	1,546	-1,257	-5,062	8,073	-921	-1,704	1,226	1,524	479	941	-1,041	3,803	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of equipment through financing arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-110	110	-	-	-	-
Landlord incentives credited to deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,119	0	604	0	0	0	0	-	-	-	-
Contract acquisition costs credited to accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	200	-	-	-	-	-	-	-	1,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Recognition of asset retirement obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	278	-	-	-	-
Acquisition of equipment through installment purchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	186